Money

Cyanotech Reports 1Q 2013 Results

August 10, 2012
AlgaeIndustryMagazine.com

Cyanotechkdropcapsailua Kona, Hawaii–based Cyanotech, a leader in high-value nutrition and health products from microalgae, has announced financial results for the first quarter of fiscal year 2013, ended June 30, 2012.

Compared to the first quarter of fiscal 2012, revenues were $6,506,000, compared to $5,950,000, an increase of 9%. Gross profit was $2,574,000, with gross profit margin of 39.6%, compared to gross profit of $2,104,000 and gross profit margin of 35.4%. Net income was $493,000 or $0.08 per diluted share, compared to net income of $486,000 or $0.09 per diluted share.

Commenting on the first quarter fiscal 2013 results, Brent Bailey, President and CEO, noted: “Although first quarter net sales growth companywide was a modest 9%, our packaged products increased 44%, reflecting our new strategic marketing focus driven by strong growth of 36% on the mainland – 55% in Hawaii, 49% in direct-to-consumer and 209% internationally.

BioAstin® Natural Astaxanthin and Hawaiian Spirulina Pacifica®

BioAstin® Natural Astaxanthin and Hawaiian Spirulina Pacifica®

BioAstin and Hawaiian Spirulina Pacifica continue to be the #1 brands of astaxanthin and spirulina, respectively, in the United States natural products channel. In spite of significantly increased demand, bulk net sales declined 6% due to lower production in the fourth quarter of fiscal 2012. Bulk spirulina sales were down 9% while bulk astaxanthin dropped 5%.

“The increase in first quarter operating expenses reflects the investment we are making in brand development, marketing, and people with successful business-building track records in consumer packaged goods. We are confident that this investment strengthens our foundation for continued revenue growth, improved margins and resulting profit,” added Bailey.

For the trailing 12 months ended June 30, 2012, compared to the trailing 12 months ended June 30, 2011, revenues were $25,187,000 compared to revenues of $18,921,000, an increase of 33%. Gross profit was $10,244,000, with gross profit margin of 40.7%, compared to gross profit of $6,786,000 and gross profit margin of 35.9%. Net income was $3,639,000 or $0.65 per diluted share, compared to $1,817,000, or $0.34 per diluted share.

More Like This…

HOME Algae Industry Jobs

Copyright ©2010-2012 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
Natural carotenoid specialists Piveg Inc., with production facilities based in Celaya, Central Mexico, has announced immediate availability of natural astaxanthin materia...
University of Adelaide researchers are using nanotechnology and the fossils of diatoms to develop a novel chemical-free and resistance-free way of protecting stored grain...
The University of Greenwich is leading a €10m international project, called the ‘D-Factory,’ to build a biorefinery to develop the microalga Dunaliella as a sustainable r...
Biomass abounds on Earth, as forests, fields, sewage and seaweed. But only a small fraction, mostly human or agricultural waste, can be harvested without posing environme...
Algae is being discussed at the heart of EXPO Milano 2015, the international event that has existed since 1851, spawning world shaping themes and icons, such as the Eiffe...
Libourne, France-based Fermentalg, an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, has completed a su...
A team of six University of Calgary researchers has been awarded funding for their project, Cost Effective Biotechnology for Carbon Capture and Re-Use, based on the conce...
Algal oil represents one of the significant segments within the omega-3 polyunsaturated fatty acid (PUFA) ingredients market. Specifically, docosahexaenoic acid (DHA) is ...
The Algae Biomass Organization (ABO) released the following statement calling on the EPA to include Carbon Capture and Utilization strategies in rules proposed June 2, 20...
Kazuaki Nagata reports from Japan that while the Fukushima nuclear disaster has prompted vigorous discussion about alternative energy in Japan, there is a lack of a paral...
A University of New South Wales (UNSW)-led team of researchers has discovered how algae that survive in very low levels of light are able to switch on and off a weird qua...
Jamie Radford writes in the Illawarra Mercury that Pia Winberg, from the University of Wollongong, believes that the South Coast of New South Wales, Australia (NSW) is in...
Gilbert, AZ-based Heliae has announced a partnership with Sincere Corporation, a Japanese waste management and recycling company, to form a joint venture and develop a co...
Kyae Mone Win reports in the Myanmar Times that spirulina has been harvested from Twin Daung lake in Sagaing’s Bu Ta Lin township for over a decade, but climate change an...
Perth, Western Australia-based Algae.Tec Limited has announced that the Reliance Group has converted the first tranche of options following the positive progress achieved...
Bookending the upcoming Algae Biomass Summit, Sept. 29-Oct.2 in San Diego, will be industry tours to give attendees a first-hand look at the latest progress in technical ...
Expanding from its initial work in algal biofuels, General Atomic’s (GA’s) Advanced Biological Processes team has focused on the rising need for food globally, specifical...
Chase Ezell writes in Earth911.com about the irony of Algenol’s biggest friction source on the way to marketing their carbon reducing algal-based ethanol being — the EPA ...